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DCT Industrial Closes Acquisition

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DCT Industrial Trust Inc. (DCT - Free Report) , a real estate investment trust (REIT), has recently completed the acquisition of a portfolio of four industrial assets in Chicago and Los Angeles. The properties were purchased from an unnamed seller for an undisclosed amount.

The assets spanning 563,000 square feet are currently 99.6% occupied by eight tenants. This transaction is in line with DCT Industrial's ploy of strengthening its presence in key markets. Three of the acquired facilities are located in the Los Angeles International Airport submarket and the other in the Chicago O’Hare International Airport submarket.

Since June 30, 2012, DCT Industrial has acquired eight buildings for $41.3 million with two in the third quarter of 2012 and six in October.  The company has been very active on acquisitions, thereby enhancing the overall quality of its portfolio.

DCT Industrial is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. It serves companies on a national and local level and across a broad range of industries such as medical, consumer products, online retail, logistics and the manufacturing sector besides the government.

As of September 30, 2012, the company owned interests in, managed or had under development approximately 75.2 million square feet of properties, which have been leased to more than 840 customers. These included 16.7 million square feet of properties managed on behalf of five institutional management partners.

DCT Industrial currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We have  a long-term Neutral recommendation on the stock. One of its competitors, Duke Realty Corp (DRE - Free Report) also holds a Zacks #3 Rank.

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